Company size and industry are not relevant when it comes to ransomware attacks. Any organization can be victimized. Therefore, companies need to be proactive and prevent attacks altogether. In this blog, let’s review the consequences of ransomware, 5 ways to prevent ransomware attacks and how to be better prepared.
Ransomware is when a hacker encrypts your files and only releases the files once you pay the ransom fee. Even then, you’re not sure you’ll get access to your files ever again.
First and foremost, ransomware attacks are the downtime of your business while your files are encrypted can be detrimental to your company. Employees are limited to what they can work on, production reduces and the business in general just comes to a stop.
The manufacturing industry, for example, is still a smaller percentage of ransomware attacks; however, they account for some of the largest payouts. Why? Because the manufacturingindustry has one of the highest downtime costs – about $22,000 per hour.
If your business stops, you can’t serve or produce a product, you lose clients, company stakeholders pull out investment. The domino effect can be terrible. You want the least amount of disruption. You’re striving for business continuity and the least amount of money lost. So, how can you prevent an attack?
Whether you send an eBook, a tutorial or hold a seminar,inform your employees of the dangers of cybercrime. Most importantly, teach them about how cybercrime is possible. If possible, take it one step further and encourage employees to point out any suspicious emails. Here are potential topics to discuss:
To ensure any new program runs smoothly, companies needbuy-in from high-level management. You need their full support. Especially fordata protection, training won’t be taken seriously without their approval and involvement.If possible, get high-level management to advise the other employees of theproject.
Software and operating system updates ensure you are using the latest security patches. Therefore, you are reducing vulnerabilities in your company and discouraging hackers from hacking your system.
Antivirus can prevent and detect malware as it enters yoursystem. Hereis a list of the top antivirus solutions ranked from best to worse.
Although this does not prevent an attack, backing up your data protect your business from paying ransom fees. You won’t need access to the hacker’s version because you have a backup. Backing up your data also improves business continuity and avoids huge downtimes.
How are you preventing ransomware attacks?
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